Busan Finance Center and FINRESP strengthen ties on Sustainable Finance in Madrid
A pivotal meeting took place in Madrid recently between our FC4S members Busan Finance Center and the Spanish Center for Sustainable and Responsible Finance (FINRESP) on advancing sustainable finance.
The Busan delegation, consisting of Mr. Soongoo Ahn, Director of Busan Finance Center, and Mr. Namhyun An, Team Lead, engaged in a series of meaningful discussions with the FINRESP team, which was led by Juan Carlos Delrieu, Advisor to the Chairman and Chief Economist at the Spanish Banking Association. The exchange aimed to explore various aspects of the financial center ecosystem in Madrid and Spain, enhancing the Busan team’s understanding of the Madrid Sustainable Finance ecosystem and the advanced developments occurring there.
A key focus of the meeting was the support for Small and Medium Enterprises (SMEs) and startups in fostering sustainable management practices. Both sides shared examples of successful initiatives aimed at incubating and supporting sustainable businesses. They also discussed the adoption of the EU Green Bonds Standard, which is set to take effect this year, highlighting both the challenges and opportunities it presents.
The delegation also explored government incentives and strategies designed to stimulate financial flows into sustainable activities, thereby supporting the achievement of the United Nations Sustainable Development Goals (SDGs).
From these discussions, several agendas for further collaboration between Madrid and Busan were developed, which will be further discussed with FC4S. One potential initiative is an international webinar where financial centers can exchange strategies and policies for sustainable finance ecosystem development, and showcase cutting-edge fintech and startups.
During their trip, the Busan delegation also hosted an Investor Relations (IR) session in collaboration with the Madrid Chamber of Commerce. This session was an opportunity to introduce the Busan International Finance Center’s ecosystem, including its strengths in digital, sustainable, and maritime finance.
This meeting marked a significant step forward in strengthening the partnership between Busan Finance Center and FINRESP, underlining their shared commitment to driving sustainable finance initiatives on a global scale facilitated by FC4S.
